The proposed bill amends several sections of the Arizona Revised Statutes related to the government property lease excise tax. Key changes include the requirement for government lessors to maintain a public database that includes detailed information about leases and development agreements, such as the county assessor's parcel number, legal descriptions, lessee names, and tax obligations. Additionally, the bill specifies that the lease period for properties subject to tax abatement cannot exceed four years, down from the previous eight years, and mandates that the government lessor convey title to the property to the prime lessee within twelve months after the lease expiration.

Furthermore, the bill introduces new notification requirements for government lessors, including providing written notice to governing bodies about intended leases and development agreements, along with an estimate of the property tax revenue that will be foregone. It also clarifies that the economic and fiscal benefits of the lease must exceed the benefits received by the prime lessee, with specific exemptions for residential rental housing. Overall, the bill aims to enhance transparency and accountability in government property leasing while tightening the conditions under which tax abatements are granted.

Statutes affected:
Introduced Version: 15-971, 42-6202, 42-6204, 42-6206, 42-6209, 15-947, 15-961, 41-1276, 15-447, 15-943, 15-973, 15-255, 15-904, 15-766, 15-767, 37-521, 42-5029, 42-5029.02, 35-173, 42-6208, 42-18053, 42-6203